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Previous: COMMUNITY FIRST BANKSHARES INC, 10-K, 2000-03-24 |
Next: COMMUNITY FIRST BANKSHARES INC, 10-K, 2000-03-24 |
EXHIBIT 10.1
COMMUNITY FIRST BANKSHARES, INC.
ANNUAL INCENTIVE PLAN
1999
1999 AIP
| GROUP |
TARGET INCENTIVE |
MAXIMUM |
||||
|---|---|---|---|---|---|---|
| I | CEO | 50% | 100% | |||
| II | VICE CHAIRS/ EVP'S | 35% | 70% | |||
| III | SVP'S | 25% | 50% | |||
| IV | VP'S | 15% | 30% | |||
SPLIT 50% INTERNAL & 50% EXTERNAL
| TARGET |
INTERNAL |
EXTERNAL |
||||
|---|---|---|---|---|---|---|
| I | 50% | 25% | 25% | |||
| II | 35% | 17.5% | 17.5% | |||
| III | 25% | 12.5% | 12.5% | |||
| IV | 15% | 7.5% | 7.5% | |||
INTERNAL AWARD CALCULATION
Based on performance versus plan EPS as target. No award if less than 90% of plan. Double internal amount @ 110% of plan (see schedule). Round up at .5 (plan) and down at < .5.
| |
|
Award % of Base Salary |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| % of Plan |
Fully Diluted EPS |
||||||||||
| I |
II |
III |
IV |
||||||||
| 90.00 | $ | 1.413 | 0.000% | 0.000% | 0.000% | 0.000% | |||||
| 91.00 | $ | 1.429 | 2.500% | 1.750% | 1.250% | 0.750% | |||||
| 92.00 | $ | 1.444 | 5.000% | 3.500% | 2.500% | 1.500% | |||||
| 93.00 | $ | 1.460 | 7.500% | 5.250% | 3.750% | 2.250% | |||||
| 94.00 | $ | 1.476 | 10.000% | 7.000% | 5.000% | 3.000% | |||||
| 95.00 | $ | 1.492 | 12.500% | 8.750% | 6.250% | 3.750% | |||||
| 96.00 | $ | 1.507 | 15.000% | 10.500% | 7.500% | 4.500% | |||||
| 97.00 | $ | 1.523 | 17.500% | 12.250% | 8.750% | 5.250% | |||||
| 98.00 | $ | 1.539 | 20.000% | 14.000% | 10.000% | 6.000% | |||||
| 99.00 | $ | 1.554 | 22.500% | 15.750% | 11.250% | 6.750% | |||||
| 100.00 | $ | 1.570 | 25.000% | 17.500% | 12.500% | 7.500% | |||||
| 101.00 | $ | 1.586 | 27.500% | 19.250% | 13.750% | 8.250% | |||||
| 102.00 | $ | 1.601 | 30.000% | 21.000% | 15.000% | 9.000% | |||||
| 103.00 | $ | 1.617 | 32.500% | 22.750% | 16.250% | 9.750% | |||||
| 104.00 | $ | 1.633 | 35.000% | 24.500% | 17.500% | 10.500% | |||||
| 105.00 | $ | 1.649 | 37.500% | 26.250% | 18.750% | 11.250% | |||||
| 106.00 | $ | 1.664 | 40.000% | 28.000% | 20.000% | 12.000% | |||||
| 107.00 | $ | 1.680 | 42.500% | 29.750% | 21.250% | 12.750% | |||||
| 108.00 | $ | 1.696 | 45.000% | 31.500% | 22.500% | 13.500% | |||||
| 109.00 | $ | 1.711 | 47.500% | 33.250% | 23.750% | 14.250% | |||||
| 110.00 | $ | 1.727 | 50.000% | 35.000% | 25.000% | 15.000% | |||||
EXTERNAL AWARD CALCULATION
SNL peer group (30 banks) for current performance year based on group as of 12/31/98.
Combines incentive for Return on Equity (ROE) and Total Shareholder Return (TSR) (see matrix).
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SNL 20 BANK GROUP
| Percentile | 85th or higher | 100% | 150% | 200% | ||||
| ROE | 50th* | 50% | 100% | 150% | ||||
| 49th or lower | 0% | 50% | 100% | |||||
| 49th or lower | 50th* | 85th or higher |
Percentile TSR
External award calculation:
| |
|
% of Salary at Performance Level |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TARGET |
50% |
100% |
150% |
200% |
||||||
| I | 25% | 12.50% | 25% | 3.75% | 50% | |||||
| II | 17.5% | 8.75% | 17.5% | 26.25% | 35% | |||||
| III | 12.5% | 6.25% | 12.5% | 18.75% | 25% | |||||
| IV | 7.5% | 3.75% | 7.5% | 11.25% | 15% | |||||
The Selected Peer Group reflects our selection of the 29 other institutions most like the subject institution to be used as a peer group in comparing relative compensation levels. The automated process searches in sequence for:
1. Banks in the same state within 40% of total assets.
2. Banks in the same region within 40% of total assets.
3. Banks in the same state within 80% of total assets.
4. Banks in the same region within 80% of total assets.
5. Any bank within 40% of total assets.
6. Any bank within 80% of total assets.
7. Banks closest in asset size.
If at any point in the sequence 29 banks are found, the sequence stops and those banks form the Selected Peer Group. If step six is reached and there are still not 29 other banks, the banks closest in asset size anywhere in the country are chosen to round out the peer group.
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